New Mexico finance chief sees fiscal recovery ahead
Tom Clifford head of the Department of Finance and Administration told the Legislative Finance Committee that oil and gas revenue will be about 840 million for 2016, down 16 percent year over year, with potential 293 million in new revenue for 2017 if prices rebound. He cited healthy reserves funding education reforms and public safety, noting Moody's recognition and lower risk as prices hover around 50 dollars.
MENTIONED IN THIS ARTICLE
New Mexico
Tom Clifford
Department of Finance and Administration
Legislative Finance Committee
Clifford
Susana Martinez
Oklahoma
Moody's Investors Service
Interest-only mortgages back as niche option for homebuyers
The piece explains how interest-only loans have returned as a niche product under stricter lending rules. Lenders now test borrower ability to handle higher payments after the initial period, reducing overall share of ARMs to about 0.2 percent. United Wholesale Mortgage expanded access, offering loans as low as $250 000, with strict down payment and credit requirements.
MENTIONED IN THIS ARTICLE
Greg McBride
Bankrate.com
United Wholesale Mortgage
U.S
California
Federal Housing Administration
Wheat Futures Prices and Trading Figures Summary
Market data shows Sep wheat contracts with bid and ask levels across multiple months, including values such as 406 40850 491 625 and 50925 502 806. Open interest stands at 415,287, with estimated sales totaling 240,426 and Tue’s sales at 107,318.
Bailout Fund Approves Greece Debt Support
The European Stability Mechanism authorized up to 86 billion euros in three years to aid Greece’s economy. Germany’s parliament cleared the package paving the way for a first 26 billion euro tranche to meet debts and recapitalize banks as Greece faces a new ECB payment.
MENTIONED IN THIS ARTICLE
Greece
Berlin
European Stability Mechanism Board
Germany
European Central Bank
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